• UoM Consumer Confidence Index rose more than expected in February's flash estimate.
• US Dollar Index clings to daily gains near 103.50.

Consumer sentiment in the US improved in early February with the University of Michigan's (UoM) Consumer Confidence Index rising to 66.4 from 64.9 in January. This reading came in better than the market expectation of 65.

"Year-ahead inflation expectations rebounded to 4.2% this month, from 3.9% in January and 4.4% in December," the UoM noted in its publication. "Long-run inflation expectations remained at 2.9% for the third straight month and stayed within the narrow 2.9-3.1% range for 18 of the last 19 months."

Market reaction

The US Dollar preserves its strength after this report and the US Dollar Index was last seen rising 0.28% on the day at 103.48.